More

    Geely’s New EV GE13 To Named Geometry C, Or the First Unmanned Pure Electric SUV

    0

    On February 14, Geometry Automobile (Geely’s EV brand) officially announced that its first SUV model, the GE13, was named Geometry C (Chinese “几何C” Jihe C), which continues the name of its pure electric sedan, Geometry A. According to the official introduction, the new car features Geely’s latest intelligent networking technology and will become the world’s first mass-produced unmanned pure electric SUV.

    Judging from the black studio pictures exposed during the same period, the overall line of Geometry C is smooth and dynamic, and it features the popular floating roof design to highlight the trend of sports. It can also be seen from the details of the side of the body that the new car or feature hidden door handle design with the same color of the body which can effectively reduce wind resistance and increase cruising range. In addition, the striking bar-style LED lights at the rear of the car are full of science and technology, while increasing the sense of fashion, it can also improve the recognition in driving at night.

    According to the official introduction, Geometry C is based on Geely’s pure electric exclusive GE2.0 platform. It adopts ITCS3.0 battery intelligent temperature control system, heat pump air conditioning system, and lightweight vehicle body technology, which can increase range by about 20% in low temperature environments. In terms of intelligent network connection, Geometry C applies Geely’s latest technological achievements in the field of unmanned driving, and is equipped with Geely’s self-developed “Intelligent Tracking Unmanned Driving System”. In the future, it will be equipped with 5G, full road conditions, full scenes, and seamless high-speed autonomous driving technology. It can enable 100% autonomous parking in outdoor and indoor multiple scenes.

    According to the previous declaration information, Geometry C has a length, width, height of 4,432 / 1833 / 1560mm, and a wheelbase of 2,700mm. In addition to the triangular windows we mentioned, the configurations of the luggage rack, blind zone camera, panoramic sunroof, rear wiper, etc. are all optional. For the power and battery, the new car will be equipped with a motor from Nidec, with a maximum power of 150kW; it will be equipped with a power battery from the CATL, but the battery pack capacity and cruising range are temporarily unknown.

    Top 6 Favorite Chinese Car Brands in 2019, Geely Ranks First, Which Do You Know?

    Chinese automobile industry started late, after China joined the WTO, China ’s automobile manufacturing industry gradually developed. However, Japanese, German, and American cars have long occupied almost all countries around the world including China, they have established a very good brand image and reputation. The earliest vehicles on Chinese market were Japan’s Toyota, Honda, and German Volkswagen. Even in 2020, in China, most Chinese consumers still think that joint-venture brand (international brand) cars are better than Chinese car brand, they will surely choose international car brand instead of Chinese brands if money is enough in the pocket.

    If time goes back 5-10 years, few foreigners may know Chinese car brands. However, like other industries in China, the Chinese automotive industry and car brands are rising up and expanding their markets. Many Chinese auto brands have made great progress in car design and vehicle handle after they have invited some international car designers to join, you may easily know it by browsing on our website. In recent years, Chinese car brands have also been working hard to expand overseas markets, anyway, most of countries are developing countries, such as countries in South America, Asia, as well as Middle East countries, Haval is one of the few Chinese brand that sells passenger cars to Australia.

    Geely Auto

    As an English blogger who often writes about Chinese cars, I would recommend Geely Auto the first.

    Geely Panda

    Geely’s reputation was bad earlier when it is just created. Li Shufu, boss of Geely, said that a car was just four wheels plus two sofas, at that time, Geely’s brand image is like what he said, simple and really poor quality, out-fashioned design.

    Things changed after Geely bought Volvo 10 years ago, since then, Geely’s brand image has been changing year by year, they are making better vehicles, more beautiful design, appearance, interior, cool tech, and of course quality improved a lot. In recent year, Geely even launched its premium brand, Lynk&Co, to lift its reputation, Lynk&Co is doing well in Chinese market now, and plans to enter to Europe market.

    Lynk & Co 01

    In international market, Geely is also getting stronger, except acquired Volvo in 100% share, Geely plans to form (merge) a new Group with Volvo (see here: Geely & Volvo to from a group), this is the recognition from Volvo, in fact, sales of both Geely and Volvo increased too much after Geely acquired Volvo these year, that’s why Volvo can accept this Chinese auto company.

    In addition, not too many people know (at least Chinese people) that, Geely also acquired Proton, a Malaysia brand, and the UK super-car brand LOTUS, as well as the acquisition of LTC (London Taxi Company, now named LEVC – London Electric Vehicle Company) in 100% share quietly, Geely is also the largest shareholder of Daimler AG. Geely was listed in HK Stock Exchange since 2005.

    Geely Xingyue

    Geely has very rich production lineup, covering from sedan to SUV, MPV, PHEV, EV. Lynk&Co is Geely’s high-end, then Geely brand sits in the middle and entry level like Emgrand and Vision series, Jinggang is the cheapest car of Geely at the moment (price start only 40,000 yuan, ~US$5,738). Geely has also EV product line, except those like Emgrand series EVs, Geely has new brand in EV, Geometry Auto, it launched its first pure EV, Geometry A, at 2019, the launch ceremony was even hold in Singapore.

    See the Geely vehicle lineup roughly (till the 2nd of 2019):

    • Lynk&Co brand: Lynk&Co 01 (compact crossover), 02 (SUV), 03 (sedan), 05 (Coupe SUV)
    • Geely brand: Xingyue (Coupe SUV), Bo-series: Boyue, Boyue Pro, Borui, Jiaji (MPV), Bin-series: Binyue, Binrui, as well as the new crossover, Geely ICON
    • Emgrand series: Emgrand GL, GS,
    • Vision series (远景): X6, S1, X3, X1
    • Geely Jinggang (or Kingkong,金刚)
    • Geely’s EV: Jihe A (Geometry A), Emgrand PHEV, Emgrand EV,

    I do suggest my Chinese friends Geely vehicles if they want to buy a Chinese brand vehicle.

    See the latest news about Geely Auto: Geely Archives

    Great Wall Motors

    Haval H6

    Great Wall Motors (GWM) is another Chinese brand that has grown up with the development of the Chinese automobile industry and economy. At the beginning, GWM produced pickup trucks and sedan models, this Chinese car maker headquartered in Hebei, China, soon turned around rapidly to SUV models. Today, the single model HAVAL H6 in its SUV brand HAVAL has achieved cumulative global sales of more than 3 million (refer to official website ). In 2019, GWM’s annual vehicle sales exceeded 1 million.

    GWM’s EV brand, ORA R1

    Nowadays, GWM has owned pickup truck series, Haval series SUV and its high-end brand WEY, as well as the latest electric models of ORA brand, especially the most mature and well-known HAVAL brand has three major product lines: F, M and H series. In the pickup product line, GWM was the earliest Chinese auto maker exported to other countries, it has gotten quite a lot of reputation abroad. Recently, GWM has put more effort on pickups and launched all-new PAO (P series) premium pickups.

    Relying on China’s development, GWM has also developed very well in international market in recent years. From the official website of Haval brand, we can see that Haval brand has sold to dozens of countries around the world. Haval even started a factory in Russia to produce Haval SUV for local market as well as WEY models.

    GWM Pao Pickup

    Great Wall Motors attaches great importance to the brand image, this can be seen from its official website. Haval, WEY, ORA and pickup lineup has its individual brand official website.

    However, GWM also has shortcomings, it does not attach importance cars (sedan) developemnt. the GWM C series sedans have been discontinued in China long time ago. So far we have not been able to find any sedan models from GWM official websites. In addition, GWM does not seem to attach much importance to the research and development of automobile chassis. According to some Chinese automobile reviewers, almost all models of Great Wall Motors use the same chassis, it was derived from the old Honda CRV platform, therefore, Great Wall Motors was also brought to court by Honda in China.

    Chery Auto

    Chery Automobile is the first Chinese car brand to go abroad. Chery has won the sales title of Chinese vehicle brand for 9 consecutive years. As early as 2013, Chery Auto has sold more than 4 million vehicles and sold its products to more than 80 countries and regions. Exports have exceeded 800,000. Chery’s headquarters is located in Anhui, China, it is from the same province as another China auto maker, JAC.

    Chery QQ3 Spec & Price
    Chery QQ

    In the early days, Chery Auto was known by a entry level vehicle named Chery QQ, it is an A0-class mini car, the price was quite cheap, but it has good room, offering 5-seater, Chery QQ harvested a large number of young Chinese people who just want their first car, Chery QQ succeeded, it created a myth of 800,000 sales in 7 years. However, today’s Chinese auto market has turned the world upside down, small cars such as QQ have long been eliminated and replaced by mid-sized SUV models such as HAVAL H6. With the development of industry and technology, people no longer small car that has four-wheels, Chinese like big cars now, the popularity of SUV models and hot sales of HAVAL H6 prove.

    Qoros 5

    With the success of Chery QQ, Chery was also the first Chinese car manufacturer to propose the development of high-end brands. The Riich brand at that time can be regarded as Chery’s idea of lifting its brand image. However, the brand image of Chinese cars at that time was cheap and weak, so Riich finally disappeared in the market. Later, Chery launched Qoros Auto, which is independent of Chery. Qoros was promoted in the Chinese market as a joint venture brand, anyway it soon falled into trouble, there is no doubt in Qoros’s quality and good reputation in the market, but the sales price is too high, vehicle model released slowly, in the end, Chery Automobile again parted ways with Qoros.

    Chery Arrizo GX Champion Edition

    After a series of frustrations in developing high-end brands, Chery Automobile has quietly launched its another premium brand EXEED and young fashion brand JETOUR in the past few years. Today, the Chery brand covers China and overseas markets with Tiggo series SUVs and Arrizo series sedan models. Chery Automobile attaches great importance to research and development, Chery Automobile also has its own engine production plant, such as ACTECO series engines with good performance.

    BYD

    BYD started its battery business in 1995 and has mastered the core technologies of electric vehicles such as batteries, IGBTs, motors, and electronic controls. It has become a company that can provide new energy solutions including electric vehicles and power batteries. In 2008, BYD launched the world’s first mass-produced plug-in hybrid (PHEV), and since 2015, it has achieved the world’s No. 1 sales of new energy vehicles (PHEVs and EVs) for four consecutive years.

    BYD F0 Front View
    BYD’s mini car, BYD F0

    BYD’s vehicle once competed for price, started by ripping off Toyota Corolla (BYD F3), Aygo (BYD F0), regardless of the poor quality, the design was considered ugly by the general public. However, it carried out a drastic update to its products after the former Audi design director jointed to BYD in 2016, and then, the appearance of BYD’s vehicle got fabulous changes after they put up the so-called “dragon face” design style, such as the compact SUV BYD SONG, the sedan BYD QIN, and the mid-size SUV BYD TANG, which will be exhibited in the United States, all of them are upgraded to the new face, coupling with BYD’s long-term accumulation in the field of electric vehicles, whether it is BYD Tang, BYD Song or BYD Qin, the sales in Chinese market are very impressive. BYD is a very enterprising brand in China.

    BYD’s flagship model, BYD Tang

    Now, BYD mainly sells passenger cars in Chinese market, BYD’s lineup covers a very comprehensive range, from small to large size vehicle, from sedan to SUV. In recent years, BYD has gradually switched from traditional fuel car models to electric cars, it also sells Bus in overseas market.

    BYD is also an alternative in the Chinese market. BYD is the only manufacturer in China that uses the Chinese characters as its badge. At present, BYD Tang (Chinese:唐), Song(宋), Yuan(元) or Qin(秦), sold in the Chinese market, are used Chinese characters as the badges. Chinese characters are not only used as car badges, but also put on many function buttons in BYD vehicle’s interior.

    CHANGAN Automobile

    Changan Automobile can be traced back to the former Shanghai foreign-made cannon Bureau in 1862, initiated by Li Hongzhang, it changed to Changan Machine Factory in 1951, and entered the automotive industry in 1953. Changan Automobile is one of China’s four largest automobile groups and is a state-owned enterprise.

    Changan CS75 Plus

    Changan Auto is located in Chongqing, the largest industrial and manufacturing city in southwestern China, where there are countless automobile and motorcycle manufacturers, Changan is the largest one. Changan Auto has formed joint ventures with many international auto brands and produces their models in China, such as the Changan-Suzuki, Changan Ford, Changan Mazda, and Changan PSA (mainly produce DS brand).

    Benni Mini Review and Road Test - Young Color and Vigour
    Changan Benni Mini

    Changan Auto’s independent brand was developed based on many joint venture auto companies. In the early days, Changan Auto’s own brand was recognized in the Chinese market mainly by Changan mini vans, and later the Benben (Benni) series of mini cars (similar to Chery QQ). However, with the development of the Chinese automobile market, minivans and small cars have gradually been eliminated from the market. Changan brand products are very rich, its product lines cover mini vans, sedans, buses, trucks, SUVs and MPVs.

    JAC

    Like Chery, JAC is another Chinese auto maker developed in Anhui, China. Unlike Chery, JAC is a state-owned car company. JAC started in commercial vehicles and trucks. In the field of passenger cars, JAC was well-known in the Chinese market for the commercial MPVs of the Refine series. At present, JAC passenger cars and commercial vehicles are equally important. passenger cars, SUVs, and electric vehicles have developed well.

    JAC’s latest sedan: JAC Jiayue

    JAC focuses on the development of overseas markets. JAC is one of the first Chinese car companies to export commercial vehicles. JAC’s international market covers more than 130 countries and regions such as South America, Europe, Africa, the Middle East, and Southeast Asia. By the end of 2016, cumulative exports Over 450,000 vehicles, ranking fifth in the industry. Among them, JAC light trucks ranked No. 1 in the industry for 14 consecutive years

    Chery EXEED TX / TXL Or Renamed VANTAS To Enter the US Market

    0

    On February 10, local time, the United States HAAH Automotive Holdings announced a cooperation with Chery Automobile to register and operate a new car brand, VANTAS, in the United States. The new brand will be the first to use Chery Group’s EXEED brand as a prototype vehicle, with the support of Chery’s technical team, it will carry out adaptive development in accordance with the relevant regulations in North America and the market’s differentiated needs. It will be sold to the United States and Canada in the future, vehicles will be assembled and produced at the US factory in HAAH, and will be sold to the US and Canada in the future.

    The VANTAS brand also released its LOGO shape, which uses a flat design as a whole, with two V-shaped polylines on the top, and the spelling of VANTAS letters on the bottom, which looks very simple overall. Duke Hale, Chairman and CEO of HAAH, also said that the VANTAS brand models will use many new technologies from Chery, including multiple safety features and driver assistance configurations, new energy models will also be launched.

    The company said that its first new car launched in the United States will be the first to use the EXEED brand of Chery Group as a prototype vehicle and to develop it in accordance with relevant North American regulations and market differentiation needs. As for the appearance of the car, its overall shape is basically the same as that of EXEED TX / TXL, but the badge of the new car will be replaced with VANTAS.

    In terms of configuration, referring to EXEED TX, the new car may be equipped with full LED headlights, a panoramic sunroof, a 10.25-inch LCD instrument panel, a 10.25-inch multimedia touch screen, one-button activation, and voice recognition technology. In terms of safety, the new car is expected to be equipped with full-speed adaptive cruise, lane departure warning, lane keeping, blind spot monitoring, and collision prevention system (with pedestrian recognition).

    At present, there is no news about the power of the new car. Refer to EXEED TX, which is powered by a 1.6TGDI (turbocharged direct injection) engine with a maximum power of 197 horsepower and a peak torque of 290 N · m. In terms of transmission system, it is matched with Getrag’s 7-speed wet dual-clutch gearbox, four-wheel drive system is optional. For more news about the new car, we will continue to pay attention.

    NIO Releases January 2020 Sales Data, A total of 1598 units Delivered

    0

    On February 10, NIO announced its latest sales results. Data show that in January 2020, the overall delivery volume of the NIO brand was 1,598 units, a year-on-year decrease of 11.47%. Among them, NIO ES6 delivered 1,493 units and NIO ES8 delivered 105 units. Since the start of delivery in June 2018, a total of 33,511 vehicles have been delivered by the entire brand.

    According to NIO, affected by the Spring Festival holiday and situation of Coronavirus, there were only 16 valid delivery days in January this year, which was 6 days less than the same period last year. Based on this calculation, NIO delivered an average of 100 vehicles in January, an increase of 22% year-on-year, and sales efficiency improved.

    NIO Space

    Li Bin, founder, chairman and CEO of NIO, was more satisfied with the company’s sales performance in January. He said: “During the epidemic, the safety of employees and users is our top priority. I want to thank our users and employees’ strong support for fighting the Coronavirus.”

    Feng Wei, Chief Financial Officer of NIO, added: “Because the government has postponed the post-holiday return to work to control the epidemic, we expect vehicle production and delivery in February to decline from the peak in the past few months. We will continue pay close attention to the situation of the epidemic, and continue to work with the Chinese government and all walks of life at home and abroad to fight the epidemic. “

    It is reported that as of January 31, 2020, NIO has opened 83 stores nationwide, including 22 NIO Houses and 61 NIO Spaces, and its sales network has covered 59 cities across the country.

    Geely and Volvo to Form Global Group

    0

    On February 10, Volvo Car Group (hereinafter referred to as “Volvo Cars”) and Geely Automobile Holding Co., Ltd. (hereinafter referred to as “Geely Auto”) announced that they are planning to integrate their businesses to form a stronger global enterprise group. The strong alliance is aimed at promoting deeper cooperation between the two sides and more effective synergy in technology research and development, cost control and finance.

    From the perspective of both parties, through business restructuring, the two parties will have greater scale advantages, stronger professional capabilities and resources to continue to lead the industry change; meanwhile, the new integrated group will continue to maintain its Volvo Cars, Geely Auto, and Lynk&Co , Polestar and other unique positioning of brands. The reorganized new business group will realize the connection with the global capital market through the listing entity of Hong Kong Geely Automobile, the next step is to consider listing in Stockholm.

    Geely Auto said that as of now, the company has not made a decision and has not formulated a clear timetable. Geely Auto and Volvo Cars will set up a joint working group to formulate a plan on the reorganization and report to the boards of directors of both parties. Li Shufu, Chairman of Geely Holding Group, said, “The new business group after the reorganization will be stronger and more competitive. Volvo Car Group President and CEO Hanken Samuelson will be asked to coordinate the working group to evaluate this reorganization opportunity. The synergy effect within the company has been continuously strengthened, while its brands maintain their unique positioning, their competitive advantages will be further highlighted. “

    According to reports, after Volvo Cars and Geely Auto have reached an agreement on the restructuring terms, they will report to both the board of directors and the shareholders’ meeting for approval. After obtaining regulatory approval, the transaction will be conducted in accordance with the prevailing market conditions and in accordance with Hong Kong Stock Exchange regulations.

    On March 28, 2010, Geely Holding Group and Ford Motor Group signed the final 100% equity acquisition agreement of Volvo Car Company; on August 2 of the same year, the two parties held a delivery ceremony in London, UK. After years of development, the business of both parties has achieved rapid development. Data show that Geely Automobile has achieved sales of 1.362 million vehicles in 2019, which is the sales champion of Chinese auto brands; Volvo Cars’ sales in 2019 also exceeded 700,000 vehicles. In order to further strengthen cooperation and synergy and explore greater growth potential, Geely Automobile and Volvo Car announced the above plan. We will continue to pay attention to the follow-up progress.

    MG Hector Plus Officially Released by Three Power Combination in India Auto Show

    0

    During the 2020 New Delhi Auto Expo, the MG Hector Plus officially launched. MG Hector Plus is a 6 / 7-seater version of the MG Hector, and both are sister models of the Baojun 530. The official said that it will be officially launched in the Indian market in the second half of this year. In terms of power, MG Hector Plus will be equipped with three power options: 1.5T gasoline engine, 1.5T gasoline engine + 48V mild hybrid system (MHEV) and 2.0T diesel.

    In terms of appearance, MG Hector Plus has basically continued the appearance language of its family design style. But through comparison, we found that the new car is still very different from the MG Hector in some details. The most obvious change is the front grille shape, the MG Hector Plus has been fitted with a more compact chrome front grille, which is larger and more integrated. At the same time, the split headlight uses a dual-lens lamp group, and bar-style design is no longer used in the shape. In addition, the shape of the silver panel around the bottom of the MG Hector Plus is different.

    In the side section, the MG Hector Plus is exactly the same as the MG Hector and uses the same rim style. The black-painted B / C / D pillars also create the visual effect of floating roof.

    In the rear part, the changes of the MG Hector Plus are mainly focused on the rear bumper shape. The deliberate red bar-type light panel below was cancelled, while the shape of its silver trim panel was also different. Overall, the new car is concise and smooth. However, the new car uses LED taillights of the same style as the MG Hector, giving the new car a stronger sense of technology.

    The interior trim debuted at India Auto Show

    No real car interior map was released this time. But according to the pictures at the press conference, we can learn that MG Hector Plus continues the same interior design as the MG Hector. The overall style of the interior is more likely a family style, and leather wrapping is used in many places to enhance the interior texture. At the same time, the center control part also uses a 10.4-inch vertical large screen and is featured with iSmart vehicle system, which supports English voice control of Indian accents. In terms of seat layout, the 6-seat version will use a 2 + 2 + 2 seat layout, and the 7-seat model will use a 2 + 3 + 2 seat layout.

    This is the interior of MG Hector

    In terms of power, MG Hector Plus will provide three power options: 1.5T gasoline engine, 1.5T gasoline engine + 48V MHEV and 2.0T diesel. Among them, the maximum power of the 1.5T fuel version / 1.5T light hybrid model is 143 hp and the peak torque is 250 Nm; the maximum power of the 2.0T diesel model is 170 hp and the peak torque is 350 N · m. In terms of transmission system, the 1.5T fuel version models match 6-speed manual or 6-speed dual-clutch transmissions, while 1.5T light hybrid models and 2.0T diesel models only provide 6-speed manual transmissions. In addition, all three models will use front-wheel drive.

    Haima Motor Debuts Indian Motor Show with Haima 7X / E1 Electric Vehicles

    0

    On February 5, 2020, the biennial Indian International Auto Show was opened at the Noida Exhibition Center in New Delhi, the capital of the country. Haima Motor debuted its latest MPV, SUV and new energy models, including the Haima 7X RHD (right hand drive) version, Haima 8S, Haima E1 electric vehicles, etc.

    The brand new Haima 7X is positioned as a family MPV, featuring a unique, forward-looking design language. It is worth mentioning that the right-hand version of the Haima 7X displayed on the scene is the first model developed for the right-hand steering market.

    With reference to the Chinese version to be launched in the first quarter of this year, the new car is equipped with a 1.6T engine with a maximum power of 194 horsepower and a peak torque of 293 N · m. The transmission is matched with a 6-speed automatic manual transmission.

    The Haima 8S is positioned as a compact SUV, it takes only 7.8 seconds in 0-100km/h acceleration time. With reference to the Chinese version, the car has strong intelligent interconnection functions and can provide eight scene modes, such as smoking and romantic modes. At the same time, Haima 8S also provides mobile phone interconnection (supports Apple CarPlay and Baidu CarLife), online navigation, voice-controlled air conditioning, window lift and so on.

    The Haima E1 electric vehicle, which debuted in India, is equipped with a high-energy ternary lithium battery and a high-efficiency three-electric system. It consumes only INR 60 per 100 kilometers.

    Since 2006, Haima Motor has completed the layout of more than 20 countries in the five major sectors of Eastern Europe, Central and South America, the Middle East, Africa, and Southeast Asia, and has established KD factories in Russia and the Middle East to initially establish a global sales network and service system.

    In the Asian market, Haima Motor has completed inspections of multiple RHD markets in India, Malaysia, Indonesia, and Thailand, and is planning to promote the development of the RHD market in two routes, the first is to introduce the Haima 7X into the Malaysian market and opt to radiate the entire ASEAN; the second is to enter the Indian market with electric vehicles as a breakthrough.

    At present, the three major brands of Suzuki, Hyundai and Tata of India occupy nearly 80% of India’s market share. China’s independent brands also have SAIC and Great Wall Haval. Therefore, Haima’s offensive in the Indian market is both a challenge and an opportunity.

    NIO Obtained Two Convertible Bonds Financing in Total of about 100 million US dollars

    0

    On the evening of February 6, NIO announced that it had completed a total of approximately $ 100 million in convertible debt financing, the investors were two Asian investment funds that had no affiliation with NIO, amounting to $ 70 million and about $ 30 million, respectively.

    NIO said that in addition to the financing action announced this time, the company has several other financing projects that are still in progress, and the relevant information is still uncertain at this stage. The company will disclose important progress and information in accordance with corresponding legal requirements.

    NIO EC6

    Recently, around the news of NIO’s financing, after completing the US $ 200 million convertible bond financing from Tencent and Li Bin, on January 15th, the industry also circulated that “GAC Group will invest in NIO” NIO said: “For financing projects, please refer to the announcement of the listed company.” GAC Group said: “The two parties have discussed NIO’s financing plan, but they are still in the early stages and have not formed any binding agreement. There is greater uncertainty as to whether an agreement can be reached in the end.”

    What is certain is that NIO has been actively promoting financing. Feng Wei, CFO of NIO, stated on the company’s third quarter earnings conference call 2019 that NIO did a lot of work on financing projects, but it is still in the confidential stage.

    At present, affected by the Wuhan Virus, Chinese auto companies have generally postponed their return to work, all auto companies are under varying degrees of pressure. NIO received US $ 100 million in financing at this time, or it will provide more protection for it to pass this special period.